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Big Brothers Inc borrows $66,737 from the bank at 18.15 percent per year, compounded annually, to purchase new machinery. This loan is to be repaid
Big Brothers Inc borrows $66,737 from the bank at 18.15 percent per year, compounded annually, to purchase new machinery. This loan is to be repaid in equal annual installment s at the end of each year over the next 8 years. How much will each annual payment be?
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